Personal Finance
Billionaires' Row: These Are New York's Uber Elite Residential Towers
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Manhattan is one of the most expensive places to live in the world. If you’re getting started there, get ready to live like Aladdin’s genie stuffed into the “teeny tiny living space” of the magic lamp . . . only with several roommates. And if you want to live on Billionaire’s Row, you’re gonna need about a thousand roommates, as condos there sell for up to $250 million! Check them out with us.
24/7 Wall St. Insights
- High-rise residences on Billionaire’s row offer a prime location near the city’s financial district and spectacular views of the city and Central Park.
- The amenities in these buildings cater to the extravagant lifestyle of the ultra-rich.
- Also: Discover “The Next NVIDIA
Where is Billionaires’ Row?
Billionaire’s Row is a neighborhood of high luxury residential skyscrapers at the southern end of Central Park in Midtown Manhattan, New York City. It includes several supertall skyscrapers over 1,000 feet tall. Some of them are around 57th Street, so that area is included in Billionaires’ Row.
How Much Does it Cost to Live There?
Buildings in Billionaire’s Row have broken records for the most expensive residences in the United States. These include a 2-story penthouse that sold for over $100 million, a 4-floor residence for $238 million, and several units combined into a 4-story mansion for $250 million.
Why is it So Expensive?
In addition to being close to the business district on the southern end of Manhattan and offering beautiful views of the city and Central Park, Billionaire’s Row has benefited from foreign investors seeking a safe haven for their money. Some of them are trying to avoid taxes in their home country or launder money they got in nefarious ways. After purchase, some of the apartments are left vacant or only used to store valuables in a building with high security, functioning like enormous safe deposit boxes.
Who Are the Billionaires?
Privacy is important to the buyers in Billionaire’s Row, so most of them purchase anonymously. However, the billionaires who are known to be owners include Michael Dell, Bill Ackman, Fawaz Al Hokair, Kenneth C. Griffin, Sara Blakely, Lloyd Blankfein, Omid Kordestani, Daniel Loeb, Daniel Och, Eyal Ofer, Pan Shiyi, Sandy Weill, Jerry Yang, Dmitry Rybolovlev, and Zhang Xin.
Why Are These Buildings Controversial?
As with any super-tall buildings, one of the concerns is how they block sunlight with their long shadows. In this case, because they are arranged near Central Park, their shadows are particularly irritating to people who want to enjoy a sunny day in the park. Another reason Billionaires’ Row developments raise some New Yorkers’ ire is that they represent huge wealth inequalities and drive up already unaffordable real estate prices in Manhattan.
Next up are the major buildings in Billionaires’ Row
1. One 57 (157 West 57th Street)
- Built: 2009-2014
- Height: 1,005 feet
- Stories: 73 above ground, 2 below ground
- Cost: $1.5 billion
- Style: Modern
- Uses: Hyatt Hotel, condominiums
2. 432 Park Avenue
- Built: 2011-2015
- Height: 1,397 feet
- Stories: 96
- Cost: $1.25 billion
- Style: Minimalist
- Uses: Luxury condominiums, retail
3. 252 East 57th Street
- Built: 2013-2016
- Height: 712 feet
- Stories: 65
- Cost: $700 million
- Style: Modern
- Uses: Luxury condominiums, retail, rental apartments, 2 public schools
4. 111 West 57th Street
- Built: 2014-2021
- Height: 1,438 feet
- Stories: 84
- Cost: $2 billion
- Style: Neo-Art Deco
- Uses: Luxury condominiums
5. Central Park Tower (225 West 57th Street)
- Built: 2014-2021
- Height: 1,550 feet
- Stories: 98
- Cost: $3 billion
- Style: Modern
- Uses: Luxury condominiums, retail
6. 220 Central Park South
- Built: 2015-2019
- Height: 952 feet
- Stories: 70
- Cost: $1.5 billion
- Style: New Classical
- Uses: Luxury condominiums
7. 53W53 (53 West 53rd Street)
- Built: 2014-2019
- Height: 1,050 feet
- Stories: 77
- Cost: $1 billion
- Style: Postmodern
- Uses: Museum of Modern Art galleries, restaurant, luxury condominiums
8. 520 Park Avenue
- Built: 2015-2018
- Height: 781 feet
- Stories: 54
- Cost: $450 million
- Style: New Classical
- Uses: Luxury condominiums
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